Eli Heckscher

Eli Heckscher was a Swedish economist known for developing the Heckscher-Ohlin theory, which explains international trade patterns. His theory suggests that countries will export goods that use their abundant resources and import those that require resources they have less of. For example, a country with lots of land might export agricultural products, while one with advanced technology might export electronics. This helps understand why different countries specialize in certain industries and trade with each other, based on their resource availability rather than just technology or costs.